World Gold Council reveals reserves of Arab countries of the yellow metal

The World Gold Council published its June 2022 report on the reserves of central banks in the world of gold, and the data showed that the reserves amounted to 35568.40 tons of the metal.

Gold is a safe haven, especially during times of crisis, as many people tend to buy it to hedge against inflationary risks, and in recent years, the precious metal’s prices have risen in light of the coronavirus crisis and its aftermath.

According to the report of the World Gold Council, in the Arab world, Saudi Arabia is the leader among the Arab countries in terms of gold reserves, since the kingdom owns 323.1 tons of the precious metal.

In second place is Lebanon with reserves of 286.8 tons, followed by Algeria with reserves of 173.8 tons.

As for the share of gold in the international reserves of the Arab countries, the data show that Lebanon leads the Arab countries in this indicator, since the precious metal makes up about 50.7% of the total value of its reserves, followed by Egypt. , and gold makes up about 21.8% of its international reserves.

Below is a table showing the ranking of Arab countries in terms of gold reserves and the share of gold in the reserves of these countries, based on the June 2022 report of the World Gold Council:

Source: RT

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